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Non-Resident Indians

Iran war squeezes NRI deposits, overseas Indians pull out nearly $2 billion in March

by InfoVera Team
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The Iran war is affecting money flows from overseas Indians, with NRIs withdrawing nearly $2 billion more than they deposited in Indian bank accounts in March, according to Reserve Bank of India (RBI) data. The total value of NRI deposits with Indian banks fell to $165.65 billion at the end of March from $167.58 billion …

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ICICI launches dollar denominated debit cards for non-residents through GIFT City account

by InfoVera Team

Mumbai: ICICI Bank has launched a USD-denominated debit card in partnership with Visa, marking a shift in how Non-Resident Indians manage offshore wealth by eliminating currency conversion layers for dollar spending.The product allows NRIs to spend directly in USD without incurring the typical 3.5% currency markup fee and GST that applies when using Indian NRE …

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